Porsche Targets Flexibility in China with Dealership and Cost Adjustments
Porsche is restructuring its strategy in China, reducing its dealership network to counter declining demand and a sluggish EV market transition in the country. This move is part of broader cost-cutting efforts, aiming for billions in savings by 2030, as shared by CFO Lutz Meschke. The company is recalibrating to a global sales outlook of […]
EV Market Faces First Decline as Hybrids Gain Ground in 2024
Electric vehicle (EV) manufacturers are facing new challenges as the market share for fully electric vehicles has retracted in 2024 for the first time since the data collection began, according to a report from the Alliance for Automotive Innovation. While the decline is minimal—just 0.1%—it signals a shift in consumer preferences. Despite this setback, traditional […]
Xiaomi’s Entry into the EV Market: A Response to U.S. Sanctions
Xiaomi Corporation, widely known for its smartphones and home appliances, made a surprising move into the electric vehicle (EV) market this year.
BYD’s Rise in Global EV Market: A RM17.2 Billion Boost
A recent study conducted by Germany’s Kiel Institute for the World Economy reveals that China’s leading electric vehicle (EV) manufacturer, BYD Co., has received substantial direct government subsidies amounting to at least €3.4 billion (RM17.2 billion).
Xpeng’s Strategy to Capture the Mass EV Market
Xpeng, a prominent Chinese electric vehicle (EV) maker, has unveiled plans to enter the highly competitive EV market segment with a new, more affordable brand.
Used EV Market Woes: A Roadblock for EV Transition
The ongoing shift towards electric vehicles (EVs) is encountering an unexpected obstacle – a reluctance among buyers to invest in used electric cars.